This year’s residential property market will be driven by affordability, stability in the market, an increase in emigration and a lack of foreign buyers, says Only Realty owner Grant Smee.
Other trends he predicts will sum up the market this year include:
•Many people ensuring their homes are fit for business and leisure by undertaking home renovations or moving to properties in order to work from home and enjoy spending more time there.
•Trendy areas becoming more affordable and accessible. Vacant offices in these areas are fuelling a surge in conversions to residential developments
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•Remote working remaining a key driver for semigration
•Co-living and micro-living will increase as people look to reduce overheads in a volatile economy
•The need for increased safety and security continues to drive young professionals, couples, and families to secure lifestyle estates.
•An increase in distressed property sales can be expected across the price spectrum
This year’s residential property market will be driven by affordability, stability in the market, an increase in emigration and a lack of foreign buyers, says Only Realty owner Grant Smee.
Other trends he predicts will sum up the market this year include:
•Many people ensuring their homes are fit for business and leisure by undertaking home renovations or moving to properties in order to work from home and enjoy spending more time there.
•Trendy areas becoming more affordable and accessible. Vacant offices in these areas are fuelling a surge in conversions to residential developments
•Remote working remaining a key driver for semigration
•Co-living and micro-living will increase as people look to reduce overheads in a volatile economy
•The need for increased safety and security continues to drive young professionals, couples, and families to secure lifestyle estates.
•An increase in distressed property sales can be expected across the price spectrum